Insider Buying: CTO Realty Growth, Inc. (NYSE:CTO) Major Shareholder Acquires 7,959 Shares of Stock

CTO Realty Growth, Inc. (NYSE:CTO) major shareholder Cto Realty Growth, Inc. acquired 7,959 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was bought at an average price of $14.97 per share, for a total transaction of $119,146.23. Following the purchase, the insider now owns 190,094 shares in the company, valued at approximately $2,845,707.18. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Cto Realty Growth, Inc. also recently made the following trade(s):

• On Thursday, June 13th, Cto Realty Growth, Inc. acquired 830 shares of CTO Realty Growth stock. The shares were purchased at an average price of $14.99 per share, with a total value of $12,441.70.
• On Tuesday, May 28th, Cto Realty Growth, Inc. acquired 191 shares of CTO Realty Growth stock. The shares were acquired at an average cost of $15.00 per share, for a total transaction of $2,865.00.

CTO Realty Growth Stock Performance

NYSE:CTO opened at $17.46 on Monday. The firm has a market capitalization of $400.71 million, a PE ratio of 31.75 and a beta of 0.75. The company has a current ratio of 4.74, a quick ratio of 4.74 and a debt-to-equity ratio of 1.17. CTO Realty Growth, Inc. has a 1 year low of $15.63 and a 1 year high of $18.03. The firm’s fifty day simple moving average is $17.46 and its 200 day simple moving average is $17.08.

CTO Realty Growth Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 13th were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.71%. CTO Realty Growth’s payout ratio is presently 276.37%.

Institutional Trading of CTO Realty Growth

Several hedge funds have recently added to or reduced their stakes in the business. EntryPoint Capital LLC bought a new position in CTO Realty Growth in the 1st quarter worth approximately $31,000. AJOVista LLC bought a new position in shares of CTO Realty Growth during the 4th quarter worth about $63,000. Jump Financial LLC acquired a new position in shares of CTO Realty Growth during the fourth quarter valued at about $192,000. PNC Financial Services Group Inc. lifted its stake in shares of CTO Realty Growth by 19.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,963 shares of the company’s stock valued at $207,000 after buying an additional 1,925 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in CTO Realty Growth by 25.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,449 shares of the company’s stock worth $213,000 after buying an additional 2,543 shares in the last quarter. Institutional investors own 67.18% of the company’s stock.

Wall Street Analysts Forecast Growth

CTO has been the topic of several analyst reports. Alliance Global Partners initiated coverage on shares of CTO Realty Growth in a research note on Monday, April 8th. They set a “buy” rating and a $20.00 price target on the stock. Jonestrading lowered their price objective on CTO Realty Growth from $21.00 to $19.00 and set a “buy” rating on the stock in a report on Monday, May 6th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.33.

About CTO Realty Growth

CTO Realty Growth, Inc is a publicly traded real estate investment trust that owns and operates a portfolio of high-quality, retail-based properties located primarily in higher growth markets in the United States. CTO also externally manages and owns a meaningful interest in Alpine Income Property Trust, Inc (NYSE: PINE), a publicly traded net lease REIT.